|Bid||31.00 x 1400|
|Ask||31.55 x 800|
|Day's Range||30.54 - 31.75|
|52 Week Range||10.57 - 33.94|
|Beta (5Y Monthly)||3.57|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||2.50 (7.65%)|
|Ex-Dividend Date||May 06, 2021|
|1y Target Est||N/A|
Energy stocks have been blistering hot. Fueling the rally in energy stocks has been a rebound in demand as the global economy reopens following government-mandated shutdowns to slow the pandemic's spread in the past year. While most energy stocks are much higher than they were to start the year, some still look like they have room to run.
The transaction boosts the growth prospects of the buyer while enhancing the sellers' balance sheets.
Kinder Morgan (KMI) has tabled a $1.225 billion acquisition bid for Stagecoach Gas Services, a unit owned jointly by Consolidated Edison (ED) and Crestwood Equity (CEQP). The transaction should close in the third quarter, subject to regulatory approval under the Hart-Scott-Rodino Act. The unit that Kinder Morgan is acquiring consists of 4 storage facilities for the natural gas pipeline network. The purchase bid represents about ten times Stagecoach’s 2020 EBITDA. The acquisition should allow Kin